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Note 7 - Share Repurchase Program
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Treasury Stock [Text Block]

(7) Share Repurchase Program

 

In 2007, our Board of Directors approved, and we announced a share repurchase program to repurchase up to one million shares of our common stock either through purchases on the open market or through private transactions and in accordance with Rule 10b-18 of the Exchange Act. In 2015, our Board of Directors approved and we announced an increase in the share repurchase program, providing for the repurchase of up to $40 million, or approximately two million shares, of our common stock, which was increased by our Board of Directors to 3.3 million shares in August 2017 to reflect the five-for-three stock split effected in the form of a stock dividend on July 7, 2017. The timing and extent to which we repurchase shares depends on market conditions and other corporate considerations. The repurchase program does not have an expiration date.

 

We repurchased and retired 200,000 shares of common stock for $3.8 million in the fourth quarter of 2018. We did not repurchase any shares in the first six months of 2019 or in the rest of 2018. As of June 30, 2019, future repurchases of up to $12.6 million, or 806,000 shares, were available in the share repurchase program.